Florida Amendment 3 Passed: What the New Property Tax Law Changes

Election result (November 4, 2026): Florida voters approved Amendment 3 on November 3 with about 62% of the vote, above the 60% needed, per unofficial results; the Associated Press called it on election night. Decision Desk HQ's count at 95% reporting was 62.02% yes to 37.98% no. Results become official when the state certifies them later this month. Amendments 1 and 2 both failed. This post has been updated to reflect the result.

Amendment 3 is the biggest change to Florida property taxes in decades. Starting in 2027, most Florida homeowners will see their homestead exemption for county and city taxes grow, reaching roughly five times the 2026 amount by 2028. Owners of rentals, second homes and commercial property get a tighter cap on how fast their assessments can rise.

This post explains what the amendment actually says, using the official text from the Florida Division of Elections. MaxLife Realty didn't take a position on the measure. But if you own, buy or sell property in Central Florida, you should understand what changes now that it's passed.

Amendment 3 Florida explained: the short version

	2026 (before)	Under Amendment 3
Homestead exemption, school taxes	$25,000	$25,000 (unchanged)
Homestead exemption, non-school taxes	Up to $51,411	$150,000 in 2027, $250,000 in 2028, then indexed to inflation
New residents (not in FL on Dec 31, 2026)	Same as everyone	$25,000 school / $50,000 non-school until their 5th year of exemption
Cap on non-homestead assessment increases (non-school)	10% a year	5% a year starting 2027
Save Our Homes cap (homesteads)	3% or CPI (2.7% in 2026)	Unchanged
Portability	Up to $500,000	Unchanged
County/city use of property tax	Their "respective purposes"	Limited to listed uses (see below)
Vote	—	Passed with about 62% (60% needed)
Effective date	—	January 1, 2027
First tax bill affected	—	November 2027 (2027 tax year)

How it got on the ballot

The Legislature passed the measure as HJR 1F during a special session on June 2, 2026 (Senate 30–9, House 75–26), per the Florida Senate. Joint resolutions go straight to voters without the governor's signature.

The original ballot title was "Save Our Homes From Excessive Property Taxes." On August 3, 2026, Leon County Circuit Judge David Frank ruled that the title and summary were misleading, as Florida Phoenix reported. The Attorney General substituted revised wording in mid-August (Central Florida Public Media), and the measure stayed on the ballot. The official title is now:

"Increased Homestead Exemption; Lower Cap on Increases in Non-Homestead Property Assessments."

What changes for homesteaded homeowners

For 2026, Florida's homestead exemption has two tiers: $25,000 off assessed value for all property taxes, plus a second tier of up to $26,411 for non-school taxes, for a total of up to $51,411. See our homestead exemption guide for how that works.

Amendment 3 replaces the non-school portion with a much larger exemption:

• January 1, 2027: up to $150,000 of assessed value exempt from all non-school levies
• January 1, 2028: up to $250,000
• 2029 onward: the amount adjusts each year for inflation (CPI), when CPI is positive

School taxes don't change. The school-levy exemption stays at $25,000. On most Central Florida tax bills, school taxes are a large share of the total, so even a homeowner whose county and city taxes drop sharply will still see a school tax line.

The amendment also directs the Legislature to create a uniform procedure letting counties and cities raise the exemption for their own levies, up to the full assessed value, and lets special districts do the same if their voters approve it by referendum.

A worked illustration

These numbers are illustrative. They assume millage rates stay the same, which they may not; local governments set rates every year.

Take a homesteaded home with an assessed value of $400,000 and suppose the combined non-school millage (county, city and special districts) is 10 mills, or $10 per $1,000 of taxable value:

• 2026: non-school taxable value is $400,000 − $51,411 = $348,589, or about $3,486 in non-school taxes
• 2027: $400,000 − $150,000 = $250,000, or about $2,500
• 2028: $400,000 − $250,000 = $150,000, or about $1,500

A homestead assessed at or below $250,000 will owe no non-school property taxes on its assessed value starting in 2028, but will still pay school taxes on everything above $25,000. To estimate your own number, look up your non-school millage on your TRIM notice or your county property appraiser's site.

The five-year rule for people moving to Florida

This is the part that matters most for relocation buyers, and with the amendment passed, the December 31, 2026 date is now less than two months away. Under the amendment's text, anyone who had not maintained a permanent residence in Florida as of December 31, 2026 qualifies at first for:

• $25,000 off for school taxes, and
• $50,000 off for non-school taxes (indexed to inflation starting in 2028)

The larger exemption kicks in "beginning with the fifth year of exemption." Starting in 2030, a county or city could shorten that waiting period for its own levies by a two-thirds vote of its governing body, for what the text calls "a critical local need." The ballot summary adds that the rule applies "to the extent permitted by the U.S. Constitution."

If you're planning a move, the practical question is when you establish Florida residency, not only when you close. Our five-year homestead wait breakdown goes deeper. Talk to the property appraiser in your county about what documentation they accept, because the property appraiser, not your agent, decides who qualifies.

What changes for second homes, rentals and commercial property

Non-homestead property gets no exemption increase. What it does get is a tighter cap on assessment growth. For non-school levies, the annual cap on assessed-value increases drops from 10% to 5% starting January 1, 2027. That covers:

• Non-homestead residential property with nine units or fewer — second homes, vacation homes, single-family rentals, small multifamily
• Other non-homestead real property, including commercial

As today, the capped value resets to market value after a change of ownership or control of a residential property, and the Legislature can require the same for other property. School taxes remain outside the cap, just as they are now. Our post on the commercial property tax cap walks through what that means for investors.

The new limits on local spending

Amendment 3 also rewrites the section of the Constitution that authorizes local property taxes. County and city property taxes can now be used only to:

1. Provide public safety, including law enforcement, fire service and EMS
2. Fund education and public schools
3. Finance infrastructure, including roads, bridges and stormwater control
4. Finance natural resource projects, including flood control
5. Issue bonds for these purposes and pay existing debt
6. Meet retirement obligations for local government employees
7. Fund the operations and administration of county officers, commissioners and municipalities, along with other expenditures approved by those officials or governing bodies, unless prohibited by general law

How restrictive that list turns out to be in practice will depend on how the Legislature and the courts read the seventh item.

The fiscal impact

The state's revenue estimating conference put the cost to local governments at about $12 billion a year once the amendment is fully phased in, according to the Florida Policy Institute and Florida Phoenix.

Closer to home, Osceola County estimates it will lose about $94.5 million by 2029 and was already planning for budget cuts before the vote, News 6 reported on September 2.

Supporters argued the amendment delivers the largest homeowner tax relief in state history and slows the growth of tax bills on rental and commercial property. Local governments and budget analysts warned it would force cuts to services or shift costs elsewhere. How much any individual homeowner saves also depends on whether local governments raise millage rates in response, which the amendment doesn't prohibit within existing constitutional limits. Watch your county and city budget hearings in summer 2027; that's where the first answer shows up.

What it means if you're buying or selling in Central Florida

Buyers moving within Florida: If you already have a Florida homestead, you qualify for the larger exemption on your next homestead, and portability of your Save Our Homes benefit is unchanged. Your purchase still resets the new home's assessed value to market value, so compare the seller's tax bill with your own estimate, not just the listing's tax line. Our property tax guide explains how to estimate it.

Buyers relocating from out of state: The December 31, 2026 residency date is now the one to plan around. Becoming a Florida resident before that date, rather than after it, is the difference between getting the larger exemption in 2027 and waiting until your fifth year of exemption. If you're already planning a move, ask your county property appraiser now what proof of residency they accept.

Investors and second-home buyers: A 5% cap slows the growth of your county and city taxes between sales, but the value still resets when you buy. Your first-year taxes will be based on your purchase price, as they are today.

Sellers: Lower ongoing tax bills for homesteaded buyers reduce one of the carrying costs buyers weigh, especially buyers already living in Florida. How much that shows up in prices is uncertain, and the relief doesn't start until 2027 tax bills, so price on today's comps, not on a guess about what buyers will pay later.

Other amendments on the same ballot

Two other amendments on the November 3 ballot touched state finances. Both fell short of 60%, per unofficial results:

• Amendment 1 (raise the cap on Florida's Budget Stabilization Fund to 25%) failed, with about 41% yes.
• Amendment 2 (exempt tangible personal property on agricultural land from property tax) failed, with about 58% yes.

You can read the full text of all three in the Florida Division of Elections' 2026 amendment booklet.

The bottom line

Amendment 3 passed. Starting with 2027 tax bills, it shrinks county and city property taxes for Florida homesteaders, slows the growth of those taxes on non-homestead property, and constrains what local governments can spend property tax on, at a cost the state estimates at about $12 billion a year. It doesn't touch school taxes, Save Our Homes or portability, and people who become Florida residents after December 31, 2026 wait until their fifth year of exemption for the full benefit.

If you're weighing a purchase or sale in Central Florida and want to understand the tax side of the numbers, reach out. I'm happy to walk through it with you.

This article is general information based on the official amendment text published by the Florida Division of Elections (updated September 3, 2026) and the sources linked above. First published September 28, 2026; updated November 4, 2026 with unofficial election results, which are subject to state certification. It is not legal or tax advice. MaxLife Realty takes no position on ballot measures. For how any of this applies to your property, contact your county property appraiser or a tax professional.